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An update from Lifeboat News
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The first ever GAO audit of the FEDERAL RESERVE BANKS, INCORPORATED (1913) was carried out in the
past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed
last year.
Jim DeMint, a Republican Senator, and Bernie Sanders, an
independent Senator, led the charge for a FEDERAL RESERVE BANKS,INC audit in the Senate, but
watered down the original language of the house bill (HR1207), so that a complete audit would not
be carried out. Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the
audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the
results of the first audit in the FEDERAL RESERVE BANKS, INC nearly 100 year history were posted on
Senator Sander's webpage earlier this morning.
http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3
What was revealed in the audit was startling:
$16,000,000,000,000.00 (TRILLION) had been secretly given out to between December 2007 and June
2010 to US banks and corporations and foreign banks everywhere from France to Scotland. The
Federal Reserve had secretly bailed out many of the world's banks, corporations, and
governments!
The Federal Reserve likes to refer to these secret
bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it
was loaned out at 0% interest.
Why the Federal Reserve had never been public about this or even informed the United States
Congress about the $16 trillion dollar bailout is obvious -- the American public would have been
outraged to find out that the Federal Reserve bailed out foreign banks while Americans were
struggling to find jobs. To place $16 trillion into perspective, remember that GDP of the United
States is only $14.12 trillion. The entire national debt of the United States government spanning
its 200+ year history is only $14.5 trillion.
The budget that is being debated so heavily in Congress and the Senate is only $3.5 trillion.
Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow
this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing
banks and failing corporations around the world. In late 2008, the TARP Bailout bill was passed and
loans of $800 billion were given to failing banks and companies. That was a blatant lie considering
the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal
Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal
Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks
received hefty chunks of the $16 trillion. ****
"This is a clear case of socialism for the rich and rugged, you-are-on-your-own individualism
for everyone else." – Bernie Sanders(I-VT)
When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as
well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal
Reserve, you know that it is no longer an issue of Right versus Left. When you have every single
member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich
sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity
onto itself, which has no oversight and no accountability.
Americans should be swelled with anger and outrage at the abysmal state of affairs when an
unelected group of bankers can create money out of thin air and give it out to megabanks and
supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it
believe that they can continue to devalue the savings of Americans and continue to destroy the US
economy, they will have to face the realization that their trillion dollar printing presses can be
stopped with five dollars worth of bullets. Regardless of whether this money is fiat money (money
printed with nothing of value to back it), if it is a currency forced on society and the world,
with enforcement by the Fed, IRS, the U.S. military, et al, – which it is– the acts of the
Federal Reserve are, in essence, the transfer of greater wealth to the rich insider banks and
corporations, while the rest of the world grows poorer, and as the value of this funny money grows
less and less in purchasing power. These insider banks, etc., then, exchange this funny money for
gold and silver, the real wealth of the world, which, then, reinflates the world with more and more
devaluing federal reserve notes. This, then, creates hyper-inflation, increasing the cost of all
resources and commodities, while gold and silver climb to never-seen-before levels of
value.
This is how the Federal Reserve insiders steal the wealth of the world and why the rich get
richer while the poor get poorer. It's the world's largest Ponzi scheme! The Federal Reserve is
nothing but a front for a small group of families who run a very large and successful white collar
criminal Ponzi scheme. This criminal institution should be seized by the U.S. Treasury department
and all assets frozen, and returned to the coffers of the U.S. Treasury in order to settle the U.S.
debt and help begin to balance the U.S. deficit. All banks (listed below) should be forced to
return the money received by the Federal Reserve. All families in ownership of the Fed and their
agents should be located, caught, tried and jailed for grand larceny and treason against the people
of the U.S.A. All government agents who protect and help facilitate this criminal organization
should be fired from the positions and similarly tried and jailed for grand larceny and treason.
Meanwhile, Congress should return our country to its original monetary system and, again, do its
duty to regulate the coining of the currency of America as per the U.S.
Constitution.
The list of institutions that received the most money from the Federal Reserve can be found on
page 131 of the GAO Audit and are as follows:
Citigroup:
$2.5 trillion($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion
($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (UK): $868 billion* ($868,000,000,000)
Bear Sterns:
$853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank: $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse: $262 billion
($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (UK): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
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